very account

[maryp0ppins]

I opened a very account yesterday to buy a tumble dryer. Got it with no interest for 9 months,which we def will do as have already set up a dd for £30 a month and will prob pay it in full in february when xmas is all over. Read the small print and interest is 44% after 9 months!!! Outrageous. I will never use this account for anything else and will close it once we have paid for the tumble dryer in full. I just cant believe they say "you can buy all the latest styles and gadgets and styles for your family and spread the cost by min payments" people who know nothing about credit probably dont realise how much interest you will pay if you just pay the min each month! By the time you have paid it all off these things will be long out of fashion.

Eta: we buy the majority of things on credit and pay them off before we get interest but im well aware of how out of control credit can get if you dont use it properly!!

 

[ellismum]

I have a very account and use it regulary. I don't pay interest, never have, and use the "Take 3" option where you can make 3 equal payments interest free when it's a large order.

The interest rate is on a par with other credit accounts - Next, Argos, both of which I have and again, never pay interest. Argos often do really good interest free terms, ESP when your washing machine and fridge freezer pack up at the same time lol!

 

[maryp0ppins]

Oh dear not all at once!! Didnt realise they have the 3 equal payments thing. I have a normal mastercard with the post office with 15% interest i think but i had to put my visa to stay in the country on that so dont want to make any more transactions until its paid off! (£1377)

 

[Abz1982]

I think the rate varies..........I am only 29.9% APR For my Very account - I used it for my laptop which I got interest free, but have bought other things and now have to pay it off - Oh FUN!

 

[// arcadia]

I wouldnt set up a DD to pay it, you have to go into your account and allocate the payments to the buy now pay later tab.

And of course they whack on interest if you dont pay it before BNPL is up but i think thats pretty self explanitory. Ive never paid interest on anything as they've always been paid on time.

 

[maryp0ppins]

Yep have set up a dd for it already.

 

[// arcadia]

I would email them each time then to make sure that money is allocated to bnpl items.

 

[lindseymw]

I've used Very a few times for big purchases, washing machine, laptop. Always had 12 months BNPL & always paid it off well before the 12months is up. I never set up a DD. On pay day I go online & pay off as much as I can afford that month. Generally between £50-100 depending on what else I need to pay for that month, birthdays etc.

If I'm buying something small then I always pay upfront & don't add it to my account.

 

[Abz1982]

I would email them each time then to make sure that money is allocated to bnpl items.

You have to specifically go to the website to pay BNPL....I was doing a DD and only had the laptop on it and it was NOT allocated to my BNPL. it jsut gave me a credit!

 

[monkee12]

My OH has a very account and we never pay interest on any items we buy. Not really used it much though

 

[maryp0ppins]

I would email them each time then to make sure that money is allocated to bnpl items.

You have to specifically go to the website to pay BNPL....I was doing a DD and only had the laptop on it and it was NOT allocated to my BNPL. it jsut gave me a credit!

I did not realise this!! Me and oh just went on and looked at how to make payments. Just gonna do it each payday from their website.

 

[~RedLily~]

Ooh I hate Very! I bought a load of things with BNPL, returned one thing (still over the BNPL limit so didn't worry) and that cancelled the pay later and I ended up probably paying more than double by the time I managed to clear it. I would imagine in your case though as it is just the one thing it will be fine.
My post is pretty pointless I'm just still very bitter so thought I'd share

 

[Natasha2605]

Urgh I hate very. No problems with Littlewoods etc but Very are a pain in the ass! Can't wait to have mine cleared!

 

[tina_h75]

I hate Very! I made 2 payments in one month but the second payment crossed with the statement so it showed a payment was still due and I didn't notice until the day after the due date which meant it was paid a day late. They issued me a late notice fee and charged £12 to my account 7 days after they received the payment!! I phoned them, paid off the entire balance minus the £12 charge and had them close my account.

 

[nicki01]

i dont have a very account but i have a isme. Got our tumble dryer from there and i have almost cleared it. With the welcome voucher i got the dryer £40 cheaper than anywhere else and just pay of £50 here and there, its almost gone now!